Consumer Products

Under Armour shares fall 3% on flat margins, view

SteveGelsi

Corrects percentage change in headline.

NEW YORK (MarketWatch) -- Under Armour Inc.
UA, -0.03%
shares fell 3% to $75.15 in premarket trades on Thursday after the clothing maker said it now expects 2012 revenue growth at the low end of its 20% to 25% long-term growth target, compared to its prior estimate at the higher end of its growth target. The company also said its fourth-quarter gross margin dipped slightly to 51.6% from 51.7% because of "less favorable North American wholesale apparel product margins" along with the impact of its move to bring its hats and bags business in-house after licensing it out. The company's fourth-quarter earnings of 62 cents a share beat the Wall Street target of 60 cents a share.

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